Thursday, June 8, 2023
  • Donate
  • Newsletter
Russian Free Press
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after
No Result
View All Result
Russian Free Press

Russia’s oil and gas revenues fell by almost 40% in a year

March 1, 2023
in Daily News
Share on FacebookShare on Twitter

Russia's oil and gas revenues fell by 40% during the year of the war in Ukraine. Such data are provided by the International Energy Agency (IEA) based on the analysis of January statistics. Reuters refers to it.

The agency comes to the conclusion that Western restrictions have achieved their goal: Russia's revenues from the sale of hydrocarbons have fallen significantly, while the market situation in the world has not suffered - there is no shortage of supply. According to the IEA, in January 2023, Moscow's revenues from the sale of oil and gas fell by 38% compared to the same period in 2022, from $30 billion to $18.5 billion.

“We expect this decline in oil and gas revenues to be sharper in the coming months. And even tougher in the medium term due to lack of access to technology and investment,” IEA chief Fatih Birol told Reuters.

The agency notes that oil and gas revenues are one of the most important sources of replenishment for the Russian budget. Last year, the IEA estimates oil and gas revenues at 11.6 trillion rubles ($154.68 billion), but this was not enough, and the authorities had to spend reserves to cover the budget deficit caused by the war in Ukraine.

The IEA assesses the European prospects much better, the agency praises the EU for the measures taken: reducing gas consumption, promptly searching for alternative suppliers to the Russian Gazprom, as well as increasing capacity from renewable energy sources. However, the IEA acknowledges that risks for Europe still remain. The IEA calls China the main risk for the EU's energy security, which in 2023 may sharply increase gas consumption, which, in turn, may provoke a new round of the energy crisis.

Read also

“They mocked me in the way that an embittered Russian soldier would not have mocked a captured soldier of the Armed Forces of Ukraine” – a lieutenant colonel who was captured by the Wagnerites

June 8, 2023

Zelensky announced the many victims of the flood in the occupied areas of the Kherson region

June 8, 2023

Ex-governor of the Krasnoyarsk Territory, whose son escaped from house arrest in Italy, was elected a senator

June 8, 2023

The invaders do not allow the civilian population to be evacuated after the dam was blown up, the mobilized suffer losses from the RDK. What’s Happening on the Front Line

June 7, 2023

Reconciliation of the opposition, demand for sanctions and support for saboteurs. Arestovich gave four pieces of advice to the Russian opposition in Brussels

June 7, 2023

Human rights activist Dmitry Kamynin sentenced to 18 years in strict regime in drug case

June 7, 2023

RECOMMENDED NEWS

Coronavirus in the morning<strong> the 13th of November…</strong>

7 months ago

Turkish Foreign Ministry: “Turkey fulfills all the requirements…

6 months ago

80% of the Kyiv region remains without electricity due to damage to infrastructure after shelling

6 months ago

The United States is not yet ready to…

6 months ago

Newsletter

Be the first to get the news in the Telegram newsletter!

  • About
  • Contact
  • Privacy
  • Cookie
  • Terms
  • Donate
  • Advertise
  • Sitemap
contact@russianfreepress.com

© 2022 Russian Free Press - Honest news about Russia and the whole world.

No Result
View All Result
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after

© 2022 Russian Free Press - Honest news about Russia and the whole world.